A Source Code appendix containing a source code of a computer program used with the present invention is appended hereto as Appendix A.
1. Field of the Invention
The present invention relates to a method for managing inventory with the aid of a programmable computer, and more particularly to a method for receiving, sorting, marking, tracking, and selling distressed inventory which has been delivered to a distressed inventory central warehouse. The method provides for the complete automation of the inventory management of a distressed inventory warehouse and the continual updating of inventory data records related to the distressed inventory as it passes through various stages within the warehouse, including matching and identifying lost inventory.
2. Description of the Prior Art
Approximately 1% of all inventory shipped by freight carriers in the U.S. does not reach its intended destination or is not accepted by the buyer once it reaches its destination. This type of inventory is commonly referred to as xe2x80x9cdistressed inventory.xe2x80x9d Inventory often becomes distressed inventory because it was accidentally loaded on the wrong freight truck, damaged, or simply marked improperly.
Distressed inventory often cannot be feasibly reunited with the original inventory manufacturer or seller because freight carriers often do not immediately return to the place where they initially picked up the inventory. Therefore, it is common for freight carriers to deliver distressed inventory to centrally located distressed inventory warehouses that sort, store, redeliver or sell the inventory.
Once the distressed inventory is delivered to the distressed inventory warehouse, the distressed inventory warehouse must manage the distressed inventory and determine how to best deal with it. There are many unique problems associated with the managing of distressed inventory that are not encountered in the management of xe2x80x9cregularxe2x80x9d inventory. For example, regular inventory is typically delivered to a warehouse only after it has been ordered. Further, the ordered inventory will usually be clearly identified, typically in the form of documentation which accompanies the inventory (i.e., freight bills, labels, UPC code, etc). Yet further, the delivery dates and times for regular inventory is set well in advance of the delivery. In contrast, with distressed inventory, it is impossible to anticipate what inventory will be lost, damaged, etc., during shipping; therefore, it is also impossible to anticipate what types of goods will be delivered to the distressed inventory warehouse and when the distressed inventory will be delivered. Accordingly, distressed inventory warehouses must be constantly prepared to receive and manage all types of inventory, particularly unidentified inventory, at all times.
Another unique problem associated with the management of distressed inventory is that many different types of inventory may be received by a single distressed inventory warehouse without advance notice. For example, it is not uncommon for distressed inventory warehouses to receive food items, clothing, vehicle parts, electronics, personal hygiene products, appliances, musical instruments, cleaning supplies and other similar goods. As can be appreciated, each of these types of inventory require different handling procedures. Thus, it is much more difficult to develop procedures for handling distressed inventory than for non-distressed inventory.
Another unique problem associated with the management of distressed inventory is that the distressed inventory is not always handled in conventional manners. For example, distressed inventory is often in such bad shape that it must be trashed or sold for scrap value. Additionally, some freight carriers require that certain types of distressed inventory be returned to them. Thus, distressed inventory warehouses must identify the distressed inventory that requires special handling and separate it from other types of inventory. Since different types of inventory must pass through different inventory management stages, it is exceedingly difficult to accurately manage and track all the distressed inventory received by a distressed inventory warehouse with known inventory tracking methods.
Another problem associated with the management of distressed inventory is that it is difficult to obtain and maintain sufficient records for use in pricing the distressed inventory for sale.
Methods and apparatuses for managing and tracking inventory are known in the art. However, none of these prior art methods and apparatus have been designed to take into account the unique difficulties associated with managing distressed inventory. Accordingly, there is a need for a method and apparatus for tracking inventory that is particularly configured for managing distressed inventory.
In view of the problems associated with managing distressed inventory as set forth, it is an object of the present invention to provide a method and apparatus for managing and tracking inventory with the aid of a programmable computer that is particularly designed to take into account the unique difficulties associated with managing distressed inventory.
It is a more particular object of the present invention to provide a method and apparatus for managing and tracking distressed inventory with the aid of a programmable computer that allows an operator to easily and effectively identify and mark distressed inventory as it arrives at the distressed inventory warehouses.
It is another object of the present invention to provide a method and apparatus for managing and tracking distressed inventory with the aid of a programmable computer that allows an operator to easily and effectively track and sell inventory after it has been identified and marked and as it passes through various other stages in the distressed inventory warehouse.
It is another object of the present invention to provide a method and apparatus for managing and tracking inventory with the aid of a programmable computer that creates a unique inventory data record for each piece of inventory that is received by the distressed inventory warehouse and that permits the inventory data record to be instantaneously updated from anywhere in the distressed inventory warehouse to indicate the status of the inventory.
It is another object of the present invention to provide a method and apparatus for managing and tracking distressed inventory with the aid of a programmable computer that permits sales people to enter into negotiations with potential customers for the sale of the distressed inventory anywhere in the distressed inventory warehouse and that permits the appropriate inventory data records to be continually updated to indicate these negotiations.
It is another object of the present invention to provide a method of creating and managing a database of product UPC codes for use in pricing distressed inventory for sale.
In view of these and other objects that become evident from the following description of the present invention, a method and apparatus that is particularly designed for managing and tracking distressed inventory with the aid of a programmable computer is provided. The preferred inventory tracking apparatus broadly includes a centrally located host computer, a printer, and a plurality of remote programmable input devices located throughout the distressed inventory warehouse and in communication with the host computer.
The host computer is operable for receiving inventory information relating to the distressed inventory and for creating and storing inventory data records containing the inventory information. The label printer is coupled with the host computer and is operable for printing machine-readable inventory labels that relate to their respective inventory data records for placement on the inventory.
The programmable input devices are in communication with the host computer and may include portable scanning devices, remote access terminals or computers or other types of programmable devices. The programmable input devices are operable for inputting or scanning the machine-readable inventory labels and for communicating with the host computer for receiving and transmitting tracking, sales and other status information.
The method of the present invention is performed with the aid of a computer program for operating the host computer described above. The method broadly includes the steps: a) receiving into the host computer inventory information related to a piece of inventory, the inventory information including inventory identification information and inventory destination information; b) storing the inventory information in an inventory data record in the computer; c) printing a machine-readable inventory label with a printer coupled with the computer, the inventory label including an inventory code associated with the inventory data record; d) placing the inventory label on the inventory; e) entering the inventory code into a programmable input device in communication with the computer for accessing the inventory data record; f) entering updating information into the programmable input device whenever the inventory information changes; g) sending the updating information from the programmable input device to the computer; and h) updating the inventory data record stored in the host computer in response to receipt of the updating information.
The updating information specified above may include order information indicating that a customer has offered to buy the inventory, tracking information indicating that the inventory has been moved to a new location within the warehouse, and pricing information to change the price of the inventory. This updating information is transmitted from the programmable input device to the host computer to update the inventory data record for constantly maintaining accurate inventory information within the host computer.
The present invention also includes a method for creating and managing a database of product UPC codes for use in pricing distressed inventory for sale.